India’s $7.7 billion wellness industry is growing almost 17% annually. A major contributor to the sector is Ayurveda, one of the world’s most ancient healing systems focusing on a healthy balance between the body and the mind. Ayurvedic medicines are increasingly accepted worldwide; exports totaled $12 billion in 2013 and 2014. The spa segment, growing over 20% annually, contributes $1.7 billion to the industry.
In recent years, the Indian government announced Ayurveda as a part of its national preventive health care policy and allocated funds for the Department of Ayurveda, Yoga & Naturopathy, Unani, Siddha & Homeopathy (AYUSH). AYUSH established numerous Ayurveda schools and 125 Out Patient Departments across the country, training the next generation of physicians in Ayurvedic medicine.
Located in the northern city of Ghaziabad, Dabur India Ltd. is the largest provider of Ayurvedic products. Its Ayurvedic specialty division provides medicines that treat illnesses ranging from colds to chronic diseases. Baidyanath Group, located in eastern city of Kolkata, and Mumbai-based Zandu Realty Ltd. also specialize in Ayurvedic products. Ayurvedic hospitals and spas provide treatments consisting of a proper diet, massages, yoga, and detoxification. These treatments are usually based on the patient’s primary dosha, energies circulating the body, and the balance between their prakriti, physical and psychological characteristics.
The spa industry contributes greatly to India’s wellness sector. Backed by investments from Atlanta-based Fulcrum Venture, the Four Fountain Spa in Mumbai established spas on wheels, power spas, and spas for conferences and other special events. Enrich Hair and Skin Solutions received $16.2 million funds from JM Financial India Fund to establish 54 salons located in Mumbai, Ahmedabad, Pune, Bangalore, and Baroda. As spas provide Ayurvedic treatments, they become tourist destinations where people can relax while learning more about the benefits of fitness, healthy diet, and other aspects of preventative healthcare.
Increasing acceptance of preventative healthcare systems like Ayurveda, favorable government policies, and widespread popularity of beauty products and spas contribute to India’s thriving wellness industry.
